IS Prime, part of the ISAM Capital Markets Group, has published its financial results for 2021. The London-headquartered company saw a turnover of £37.9 million for the year ending June 2021 (£36.1 million year ending March 2020).
Net assets reached £18.8m from £10.7 million last year.
IS Prime reported operating profit of £10.1 million, down from last year. The company attributed the drop to its increased expenditure on in its people, technology and a larger premises in the City, London to accommodate growth.
Raj Sitlani, Managing Director of ISAM Capital Markets said:
We have taken the opportunity to invest in our business over the course of the pandemic and, despite the challenges of operating in this environment and of an increasingly competitive market, we have continued to grow the business and have laid the foundations for continued growth in the post COVID world. Due to this, our staff and office costs have increased substantially.
Sitlani added:
With our new office, our exceptional team, significant investment in technology and a growing and diversified client base, we believe we are in a strong position for continued growth. We also have plans in place to broaden our offering with a range of new products for brokers, fund and asset managers. This will reinforce our position as a global market leading Prime of Prime.
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